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Last $70.31 USD
Change Today -0.27 / -0.38%
Volume 373.9K
TCO On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

taubman centers inc (TCO) Snapshot

Open
$70.51
Previous Close
$70.58
Day High
$70.83
Day Low
$69.94
52 Week High
01/23/15 - $85.26
52 Week Low
08/25/15 - $67.33
Market Cap
4.3B
Average Volume 10 Days
585.3K
EPS TTM
$8.29
Shares Outstanding
60.9M
EX-Date
06/11/15
P/E TM
8.5x
Dividend
$2.26
Dividend Yield
9.90%
Current Stock Chart for TAUBMAN CENTERS INC (TCO)

taubman centers inc (TCO) Related Businessweek News

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taubman centers inc (TCO) Details

Taubman Centers, Inc. operates as a real estate investment trust. As of June 30, 2005, the company owned a 63% managing general partner’s interest in The Taubman Realty Group Limited Partnership (the operating partnership). The operating partnership engages in the ownership, management, leasing, acquisition, development, and expansion of regional retail shopping centers and interests therein. As of August 23, 2007, it owned and/or managed 23 urban and suburban shopping centers in 11 states the United States. These centers are located in metropolitan areas, including New York City, Los Angeles, San Francisco, Denver, Detroit, Phoenix, Miami, Dallas, Tampa, Orlando, and Washington, D.C. The operating partnership also owns certain regional retail shopping center development projects, as well as approximately 99% of The Taubman Company LLC, which manages the shopping centers and provides other services to the operating partnership and to the company. Taubman Centers qualifies as a REIT under the Internal Revenue Code. As a REIT, the company would not be subjected to federal income tax to the extent it distributes at least 90% of its taxable income to its shareholders. Taubman Centers was founded in 1950 by A. Alfred Taubman and is headquartered in Bloomfield Hills, Michigan.

598 Employees
Last Reported Date: 02/24/15
Founded in 1950

taubman centers inc (TCO) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $901.8K
Vice Chairman, Chief Financial Officer, Chief...
Total Annual Compensation: $634.5K
Chief Operating Officer and Director
Total Annual Compensation: $604.3K
President of Taubman Asia Management Limited
Total Annual Compensation: $1.0M
Executive Vice President of Leasing
Total Annual Compensation: $515.0K
Compensation as of Fiscal Year 2014.

taubman centers inc (TCO) Key Developments

TRG Imp LLC Enters into Construction Loan Facility with PNC Bank

On August 14, 2015, TRG IMP LLC entered into a construction loan facility (Building Loan Agreement) with PNC Bank, National Association, as Administrative Agent, and the various lenders on the signature pages thereto. The Building Loan Agreement provides for borrowings up to $330.9 million loan. The loan has a three-year term with two one-year extension options (subject to specified conditions therein) and bears interest at LIBOR plus 1.75% (which may be reduced to 1.60% upon the achievement of certain performance measures by TRG IMP LLC). The loan is interest only during the initial three-year term and no draws on the loan are permitted after the original maturity date. During the extension period, debt service payments also include principal payments based on an assumed interest rate of 6.0% and a 30-year amortization. The proceeds from the loan will be drawn down from time to time by the joint venture to finance the construction of International Market Place, in Waikiki, Honolulu, Hawaii, which is scheduled to open on August 25th, 2016. The Taubman Realty Group Limited Partnership has provided an unconditional guarantee of 50% of the principal balance and 100% of the unpaid interest. The principal guarantee may be reduced to 25% of the outstanding principal balance upon stabilization and achievement of certain performance measures by TRG IMP LLC. The principal guarantee may be released upon achievement of further restrictive performance measures by TRG IMP LLC.

Taubman Centers, Inc. Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Year 2015

Taubman Centers, Inc. reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net income attributable to common shareholders per diluted common share of $0.37 against $0.33 per share a year ago. Funds from operations per diluted common share were $0.76 against $0.80 per share a year ago. Adjusted funds from operations per diluted common share were $0.76 against $0.86 per share a year ago. Net income was $42,333,000 against $39,054,000 a year ago. Net income attributable to company common shareowners was $23,230,000 against $21,344,000 a year ago. Funds from operations attributable to company’s common shareowners were $47,939,000 against $51,337,000 a year ago. Adjusted funds from operations attributable to company’s common shareowners were $47,939,000 against $55,513,000 a year ago. EBITDA was $130,628,000 against $142,304,000 a year ago. For the six months, the company reported net income attributable to common shareholders per diluted common share of $0.84 against $6.08 per share a year ago. Funds from operations per diluted common share were $1.57 against $1.70 per share a year ago. Adjusted funds from operations per diluted common share were $1.57 against $1.76 per share a year ago. Net income was $93,333,000 against $565,211,000 a year ago. Net income attributable to company common shareowners was $52,852,000 against $390,469,000 a year ago. Funds from operations attributable to company’s common shareowners were $99,909,000 against $109,373,000 a year ago. Adjusted funds from operations attributable to company’s common shareowners were $99,909,000 against $113,549,000 a year ago. EBITDA was $267,950,000 against $780,843,000 a year ago. For the year 2015, the company is increasing its guidance for 2015 ffo per diluted common share to $3.28 to $3.36, up from the previous range of $3.20 to $3.28. the new guidance includes the impact of share repurchases through June 30, 2015, but excludes assumptions for future repurchases. this improved guidance also assumes a better than anticipated contribution from the mall of san juan. comparable center noi growth, excluding lease cancellation income, of 2.5% to 3% for the year, remains unchanged from the last quarter. The company is also increasing its guidance for 2015 eps to $1.65 to $1.78, up from $1.59 to $1.72.

Taubman Centers, Inc.(NYSE:TCO.PRJ) dropped from S&P Preferred Stock Index

Taubman Centers, Inc.(NYSE:TCO.PRJ) dropped from S&P Preferred Stock Index

 

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TCO Competitors

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Company Last Change
Equity One Inc $24.01 USD -0.20
Regency Centers Corp $60.88 USD +0.10
Retail Properties of America Inc $14.01 USD -0.05
Tanger Factory Outlet Centers Inc $32.31 USD -0.03
Weingarten Realty Investors $32.50 USD -0.01
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